Updated at 4:41 p.m., Tuesday, December 5, 2006
REIT with Hawai'i investments reports 3rd quarter loss
Advertiser Staff
Douglas Emmett Inc., a real estate investment trust whose holdings include Bishop Place and the Villas at Royal Kunia, reported a loss in the three months ended Sept. 30 but said the results may not represent the company's future performance because they exclude other properties acquired at the time of its initial public offering on Oct. 30.The Los Angeles-based company said its predecessor operation had a net loss of $25.7 million in the three months ended Sept. 30 on revenue of $104.9 million.
The company said the results exclude four office properties, three multifamily properties and a fee interest in another parcel that the company acquired at the time of the share sale.
Douglas Emmett's holdings now include 46 office buildings with 11.6 million square feet of rentable space and nine multifamily properties with 2,868 units. They are located in Los Angeles County and in Hawai'i.
